Title :
Notice of Retraction
Empirical study on IPO Initial Excess Returns of GEM
Author :
Yang, Zhang ; Bin, Ji
Author_Institution :
Shanghai University, Shanghai, China
Abstract :
Notice of Retraction
After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.
We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.
The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.
We select 86 IPO shares on Shenzhen GEM by May 26, 2010 as the research sample. The study finds that Initial Excess Returns of GEM in China is obvious, and turnover on the first day, the accumulated deviation from the closing price change within three days after IPO, Success rate, net funds raised gain the most significant influence. This study also shows that Initial Excess Returns of GEM is a result of primary market factors and secondary market factors.
Keywords :
Finance; Stock markets; Growth Enterprises Market; IPO; Initial Excess Returns;
Conference_Titel :
E -Business and E -Government (ICEE), 2011 International Conference on
Conference_Location :
Shanghai, China
Print_ISBN :
978-1-4244-8691-5
DOI :
10.1109/ICEBEG.2011.5886831
